The owner of an Ohio payroll company faces seven federal counts of bank fraud after allegedly stealing more than US$900,000 from her clients.
Jennifer Edelbrock, 51, of Kalida, operated Edelbrock Enterprises, which handles payroll and accounting services for local companies, including issuing checks, withholding federal and state taxes and making quarterly payments from money provided by customers.
But she is now accused of fraudulently obtaining at least US$914,000 for personal gain by moving funds from clients’ bank accounts to the account of All Seasons Lawn and Recreation LLC, which is owned by her husband.
According to LimaOhio, authorities first raided Edelbrock’s business in 2015, as part of a local investigation into financial crimes. In November 2016, she was given three years’ probation in Allen County after stealing US$19,176 from the Spencerville Veterans of Foreign Wars post. In Putnam County, she spent 40 days in jail and received three years’ probation for stealing US$17,250 from the Kalida Band Boosters.
In the latest federal case, the indictment said clients expected Edelbrock to hold money in trust to pay her clients’ payroll expenses. She allegedly concealed the late payment of taxes as delinquency notices, and penalties went to her alone.
Edelbrock also allegedly manipulated client payroll obligations, adding US$25 to US$90 per pay period to tax bills over and above what employers actually owed, according to the indictment. The extra money allegedly went towards her own personal enrichment.
Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.
The owner of an Ohio payroll company faces seven federal counts of bank fraud after allegedly stealing more than US$900,000 from her clients.
Jennifer Edelbrock, 51, of Kalida, operated Edelbrock Enterprises, which handles payroll and accounting services for local companies, including issuing checks, withholding federal and state taxes and making quarterly payments from money provided by customers.
But she is now accused of fraudulently obtaining at least US$914,000 for personal gain by moving funds from clients’ bank accounts to the account of All Seasons Lawn and Recreation LLC, which is owned by her husband.
According to LimaOhio, authorities first raided Edelbrock’s business in 2015, as part of a local investigation into financial crimes. In November 2016, she was given three years’ probation in Allen County after stealing US$19,176 from the Spencerville Veterans of Foreign Wars post. In Putnam County, she spent 40 days in jail and received three years’ probation for stealing US$17,250 from the Kalida Band Boosters.
In the latest federal case, the indictment said clients expected Edelbrock to hold money in trust to pay her clients’ payroll expenses. She allegedly concealed the late payment of taxes as delinquency notices, and penalties went to her alone.
Edelbrock also allegedly manipulated client payroll obligations, adding US$25 to US$90 per pay period to tax bills over and above what employers actually owed, according to the indictment. The extra money allegedly went towards her own personal enrichment.
Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.
